Prior to the lockdowns, SF used to get around 1 million people per day entering the city, and spending money there.
From tourists to office workers and janitors.
Then came the lockdowns., the TRUE source of this reduction of tax revenue.
The author and the city economist want you to believe San Francisco lost 42% of its population, which is ludicrous on its face.
My son in Silicon Valley left. Most of his friends did too. Much of Silicon valley can work from anywhere.
If 43% of the population is gone, the fiscally responsible course of action is to reduce the city employees accordingly. I don’t think that will happen until they actually can no longer make payroll.